True Gold Mining Inc.: Kao, Nami Results Complete Karma Metallurgical Drilling Campaign
53.66 g/t gold over 10.0 metres, including 263.0 g/t gold over 2.0 metres at Kao
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/13/13 -- True Gold Mining Inc. (TSX VENTURE: TGM) ("True Gold" or the "Company") is pleased to report that the recent metallurgical core drilling campaign at the Company's Karma Gold Project ("Karma Project") in Burkina Faso, West Africa is now complete, and samples have been shipped to McClelland Laboratories in Nevada for column leach test work.
The most recent metallurgical drill results were returned from the Kao and Nami deposits, two of the five deposits at the Karma Project. Assay highlights from Kao include:
-- 53.66 g/t gold over 10.0 metres, including 263.0 g/t gold over 2.0
metres, in KAO-DD-13-187
-- 2.57 g/t gold over 32.0 metres, in KAO-DD-12-097
-- 4.73 g/t gold over 16.0 metres, in KAO-DD-12-098
-- 2.03 g/t gold over 8.0 metres, in KAO-DD-12-099
-- 1.31 g/t gold over 34.0 metres and 1.65 g/t gold over 14.0 metres, in
KAO-DD-13-188
-- 2.28 g/t gold over 18.0 metres, in KAO-DD-13-189
Assay highlights from Nami include:
-- 22.50 g/t gold over 2.0 metres, in RMB-DD-13-065
-- 0.93 g/t gold over 33.5 metres, in RMB-DD-13-067
To see a drill map for Kao, please click here: http://www.truegoldmining.com/sites/default/files/KaoDrillMap1308.pdf
To see a drill map for Nami, please click here: http://www.truegoldmining.com/sites/default/files/NamiDrillMap1308.pdf
For a full table of results related to gold mineralization, please click on this link: http://www.truegoldmining.com/sites/default/files/KaoNamiMetResults1308.pdf
The holes were drilled as part of a comprehensive column leach sampling program to support the Definitive Feasibility Study ("DFS") currently in progress on the Karma Project, and were designed to capture oxide, transition and sulphide material on representative cross sections throughout the Karma Project deposits.
The HQ-sized core drilling campaign totaled 822 metres in 14 holes at the Kao deposit and 314 metres in four holes at the Nami deposit, with all holes drilled within the planned pit shells. The holes were drilled at 270 and 360 degree azimuths within the central portion of each deposit, with dips ranging from -55 to -75 degrees, and a maximum depth of 99.50 metres.
Ian Cunningham-Dunlop, P. Eng., Senior Vice President Exploration, is the Company's designated Qualified Person for this news release within the meaning of NI 43-101 and has reviewed and verified that the information contained in this release is accurate and approves of the written disclosure of same. True widths are estimated to be 50 to 90% of the intersected widths. Samples were assayed by ALS Chemex in Ouagadougou, Burkina Faso, West Africa. Assays were by Fire Assay with AAS finish and repeats of all AAS assays over 1.0 g/t by Fire Assay with gravimetric finish. Control samples (accredited standards, blanks and duplicate samples at the preparation stage) were inserted on a regular basis every ten samples. Results were monitored on receipt of assays.
About True Gold
True Gold Mining Inc. is where gold comes to life. We are committed to growing a profitable gold exploration, development and production company, by focusing on projects with low costs, low technical risks and solid economics. The Company's board, management and technical teams have proven track records in gold exploration, development, operations and production worldwide.
Additional information about the Company and its activities may be found on the Company's website at www.truegoldmining.com and under the Company's profile at www.sedar.com.
ON BEHALF OF THE BOARD
Dwayne Melrose, President & CEO
Certain statements made and information contained in this news release constitutes "forward-looking information" within the meaning of Canadian securities legislation. Such forward-looking statements are based on certain assumptions and are subject to risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, the assumptions set forth in this news release and risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources, the geology, grade and continuity of mineral deposits, the possibility that future exploration and development results or the results of the Definitive Feasibility Study on the Karma Project will not be consistent with the Company's expectations, accidents, equipment breakdowns, risk of undiscovered, title defects and surface access, labour disputes, the potential for delays in exploration and permitting activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, political risk and other risks and uncertainties, including those described under Risk Factors in each management discussion and analysis and in the Company's annual information form which are available under the Company's profile at www.sedar.com. Forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management, the expectation that the expertise of the Company's management and technical teams will continue to be available to the Company, the assumption that the Company's ultimate goal will continue to be the development of its mineral projects to production, the assumed long term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour and that the political environment within Burkina Faso will continue to support the development of environmentally safe mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements.
This news release may use the terms "measured", "indicated" and "inferred" as these terms are defined under Canada's National Instrument 43-101. U.S. Investors are advised that, while such terms are recognized and required by Canadian regulations, they are not recognized by the United States Securities and Exchange Commission ("SEC") and may not be comparable to similar information for United States mining or exploration companies. As such, certain information contained on this news release concerning descriptions of mineralization and resources under Canadian standards is not comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the SEC. U.S. investors are cautioned not to assume that any part or all of the mineral deposits described in these categories will ever be converted into proven or probable reserves, as defined in the SEC's Industry Guide No. 7.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
True Gold Mining Inc.
Vancouver Office
604-801-5020
info@truegoldmining.com
True Gold Mining Inc. - Investor Inquiries
Alex Holmes
604-632-4677
aholmes@truegoldmining.com
True Gold Mining Inc. - Media Inquiries
Ian Noble
604-809-8750
inoble@truegoldmining.com
www.truegoldmining.com